Stamford welcomes solar company with Scottish roots

Published 9:13 pm, Tuesday, April 17, 2012

Stamford has added another U.S. headquarters to its business portfolio with the arrival of a sister operation of Renewable Resources Ltd., a Scotland-based company.

Renewable Resources, a designer and installer of roof-mounted solar panels for residential and commercial customers across New York, New Jersey, Massachusetts and Connecticut, will open its headquarters and installation facility next month at Research Park in the Glenbrook section.

The company, the majority stockholder of the Stamford business, has a four-year track record in the United Kingdom, said Peter Chaitkin, president of the new operation.

"It (Stamford) is a great location. We're targeting Connecticut, New York, Massachusetts and New Jersey. Each state has incentives for residential and commercial solar energy," he said, commenting that Connecticut's Clean Energy Finance & Investment Authority is ready to provide financial assistance for installations.

Stating that the company plans to use solar panels made in the U.S., by Norcross, Ga.-based Suniva Inc., Chaitkin said he expects the price of solar equipment to come down, eliminating the need for state subsidies in three to five years.

Renewable Resources is partnering with Scottish Development International, an organization that helps Scottish companies build an international presence. Recently, it completed a 6.9 megawatt of installations on 115 supermarket rooftops for U.K. retailer Sainsbury's.

"We're starting with five employees in May," Chaitkin said. "By the end of the year, we'll have at least 20 and maybe 50, depending on how fast we grow. We hope to be installing our first systems as early as June."

Scottish Development International plays a key role in assisting businesses in Scotland in overseas expansion, said Laure Aubuchon, Stamford's economic development director, calling it a role model for others to follow.

"The vast majority of their funding come from their government," she said.

Scotland is a leader in renewable energy technology, and Renewable Resources is an example of how Scottish Development International is working, said Fergus Ewing, the Scottish government's minister for Energy, Enterprise and Tourism.

"They are an excellent example of an innovative and ambitious Scottish company that is moving into overseas markets and this is exactly what the Scottish government is encouraging," he said, in prepared comments.

The residential and commercial solar markets in the United States are rapidly growing and presenting opportunities, said Paul Gribben, chief executive, Renewable Resources.